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Rivian Automotive (RIVN) Gains As Market Dips: What You Should Know

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Rivian Automotive (RIVN - Free Report) ended the recent trading session at $11.09, demonstrating a +1.28% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.2%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.

The a manufacturer of motor vehicles and passenger cars's stock has dropped by 3.52% in the past month, falling short of the Auto-Tires-Trucks sector's loss of 1.71% and the S&P 500's gain of 3.32%.

Investors will be eagerly watching for the performance of Rivian Automotive in its upcoming earnings disclosure. The company is expected to report EPS of -$1.13, up 9.6% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.08 billion, up 63.67% from the prior-year quarter.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.95 per share and revenue of $4.74 billion. These totals would mark changes of +19.06% and +6.9%, respectively, from last year.

Any recent changes to analyst estimates for Rivian Automotive should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.45% upward. Rivian Automotive currently has a Zacks Rank of #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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